EURUSD Daily Forecast: February 18 2016

The EURUSD had another indecisive movement yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term testing the daily EMA 200 and 1.1070 support area which remains a good place to buy targeting 1.1500. A clear break and daily close below 1.1070 could trigger further bearish pressure testing 1.0800 area. Immediate resistance is seen around 1.1180. A clear break above that area could lead price to neutral zone in nearest term testing 1.0250 which need to be clearly broken to the upside to potentially end the current bearish phase since the appearance of the shooting star formation on daily chart last week. My major technical outlook is neutral.